Stockholm (HedgeNordic) – Visio Asset Management Ltd. of Finland reported an impressive 3.26% increase (0.53% YTD) in net asset value for its Allocator Fund for the month of August. This was by comparison with a 1.15% increase in the Euro Stoxx 50, a 0.42% increase in the MSCI World Index and an estimated depreciation of -0.12% on the NHX Composite.
Commenting on the month’s performance, Petri Tuutti (pictured), the Fund’s CIO, suggested its best performing positions during the month were in fundamental equity positions, small cap value stocks and corporate bonds. Its worst performing positions were in index hedges, short book and thematic equity positions.
The Fund’s average beta during August was 50%, varying between 33% and 66%. Meanwhile, it increased its equity exposure from 78% to 83%, establishing positions in H&M and SEB, while closing positions at a profit in pharmaceutical stocks AstraZeneca, Shire, Gilead Sciences and Celgene.
The Fund maintains a positive view on equity markets, albeit with storm clouds of market uncertainty gathering for the remainder of the year due to the U.S. presidential election.
Visio’s Emerging Markets Multi Strategy B Fund will be merged with the Allocator Fund at the end of the September.